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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Planning Commission, India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Parliament of New Zealand
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
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